Sunday Adverts: Indiana National Bank of Indianapolis

Before the days of online banking and tooth fairies who pay $1.00 or more per tooth, local banks like The Indiana National Bank of Indianapolis passed out dime (or quarter) savers, like the one featured here from 1959. An account at the bank wasn’t required, though the bank hoped the user would open an account after accumulating enough dimes to fill the dimesaver.

Courtesy of the Personal Collection of Bradley Keen

Indiana National Bank of Indianapolis was chartered as Second State Bank of Indiana in 1834. When its charter was up in 1857, some of the same investors requested a new charter for a different bank, called the Bank of the State of Indiana. However, by 1865, private investors had secured a charter through the National Bank Act of 1863 and opened the Indiana National Bank of Indianapolis at Meridian and Washington Streets in downtown Indianapolis. In 1882, the bank moved a little further down Washington Street, and after that building was destroyed by fire, moved to 3 Virginia Avenue.

Courtesy of the Personal Collection of Bradley Keen

From roughly 1912 through 1968, the Indiana National Bank of Indianapolis bought numerous other smaller banks, and increased its customer base all over the city of Indianapolis. By 1970, Indiana National Bank of Indianapolis was the largest bank in the area, and moved to a 37-story building in downtown Indianapolis. However, by 1992, regional bank NBD acquired the Indiana National Bank of Indianapolis. What was INB way back when is now owned by Chase Bank, which unfortunately, does not still offer dime (or quarter) savers.

About The Author

Jessica Ballard-Barnett is a lawyer by day, and an amateur historian by night. A lifelong Indianapolis resident, she has a passion for old houses with velvet wallpaper, graveyards with ominous markers, and religious relics.

10 Comments

Laura
on June 23, 2013 at 11:08 am

My mother’s co-workers at the Board of Health gave her a quarter saver when she was expecting me (41 years ago)! Everyone in the office contributed a quarter, and signed each little spot. There was also a space for a dollar – I can’t remember if that was a 4-person effort, or if it came from the boss.

Indiana National Bank disappeared due to poor legislation or lack thereof by the Indiana State Legislature. The lawmakers were concerned that the larger Indianapolis banks would acquire the smaller banks around the state. It happened anyway, but by out-of-state banks. Now, businesses seeking loans are at the mercy of people in New York, Michigan, Ohio, and Illinois. Add that to the insurance companies that were lost for lack of legislation to keep them here has cost Indianapolis thousands of jobs.

The next time our lawmakers want to be progressive, let them. They might be saving your job.

I stumbled across this blog while doing some quick research on the history of Indiana National Bank. Like Norm Morford, I, too, wonder why the old Indiana National Bank building at 3 Virginia Avenue was not preserved. For that matter, I felt it was a travesty that the old Indianapolis Courthouse building was demolished to make way for the bleak, sterile City-County building. Someone once told me that the City-County building was once deemed “notable for its consummate dullness” by the American Association of Architects. It’s also too bad the Hume-Mansur building went as well. All three buildings had very unique architecture that was certainly worthy of preservation.

Hi Everyone,,
I began working at INB summer of 1973 as part of the typing pool, eleventh floor #1114, Installment Loan Div. I had the most wonderful supervisor by the name of Susie Trittipo. If there is anyone that may know of her, I would love to say hello. I’ve never forgotten her guidance and gentle way she had with us girls.
Thank you very much,
Cathy Slater